Earnings Releases·Oct 28, 2026, 5:14 PM ET

Antero Midstream — Third Quarter 2026 Earnings Summary

Net income surged 242% year-over-year to $393 million ($0.82/share), driven by a $377 million litigation gain, while adjusted net income and adjusted EBITDA rose 4% and 3% respectively to $134 million and $291 million.
Full-year 2026 guidance was raised significantly, with adjusted free cash flow (before dividends) updated to $1.125–$1.185 billion and net income to $765–$815 million, reflecting the litigation proceeds and expected EBITDA growth in Q4 2026 and 2027.
Capital allocation focused on balance sheet strength and shareholder returns, reducing absolute debt by over $400 million, retiring $650 million in senior notes, and accelerating share repurchases that reduced the share count by 4 million year-over-year.
Operational throughput grew 19% in gathering and 17% in compression, with 100% utilization of processing capacity, though 10 Bcf of throughput was curtailed in Q3 with 15–20 Bcf expected in Q4.